AG Martha Coakley unveils initiative to help military service members avoid foreclosure
Military service members struggling to pay their mortgages now have a new point person to call for help at the office of Massachusetts Attorney General Martha Coakley.
Coakley on Friday announced a new initiative meant to help veterans and current service members avoid foreclosure through its HomeCorps program, launched in April to help troubled borrowers statewide.
The effort, created in coordination with the Massachusetts Department of Veterans’ Services, offers one loan modification specialist whose job is to help military families. It expands an ongoing informal effort at the attorney general’s office to help such families.
HomeCorps was created with funds obtained through a settlement recently reached between 49 states and five major US banks. Already, the program is helping more than 120 military families attempting to obtain loan modifications or avoid property seizures, the attorney general’s office said.
Coleman Nee, secretary of Veterans Services, praised the initiative giving veterans a direct line to help. He said many military families have found themselves struggling because they bought properties at the height of the market and can no longer afford them. He said other older veterans are stuck in homes they can’t sell because property values have fallen steeply in some areas of the state.
“Having someone dedicated at the attorney general’s office will help us save us from some of these foreclosures,’’ he said. “The attorney general has really stepped up to be a true partner.”
Troubled borrowers can call the HomeCorps hotline at 617-573-5333.Jenifer B. McKim can be reached at email@example.com. Follow her on twitter @jbmckim.